There may be several reasons:
1. Currently SMIC shares are not included in the relevant index: ETF portfolios are usually adjusted based on a specific index, and SMIC shares may not be included in the relevant index, so they will not appear in the ETF portfolio.
2. The ETF mix and holdings are regularly adjusted by the issuer: The ETF issuer regularly checks and adjusts the ETF mix and holdings to ensure that the investment objectives and strategies of the ETF can be achieved. If SMIC shares do not perform in line with the ETF's investment objectives and strategies, they will not be included in the ETF's portfolio.
3. The market performance of SMIC stocks is unstable: ETFs usually choose stocks with stable performance to form their portfolio, while the market performance of SMIC stocks is relatively volatile and the risks are relatively high, so they may not be favored by ETF issuers.
It should be noted that the portfolio and holdings of the ETF are constantly adjusted, and SMIC shares may be included in the ETF portfolio in the future. In addition, ETFs also have different types and different investment strategies, and different ETFs may choose different stocks to make up their portfolios.
It is up to fund managers to decide which stocks a fund holds, and although SMIC is a chip concept, fund managers have not selected it for their holdings. So it is normal that there is no SMIC in the chip ETF.